It’s believed that his vast earnings came from a recent US tour, a lucrative vodka marketing deal, and selling a third of his popular Sean John clothing line.

The second and third spots, respectively, were taken by Beyonce and Harry Potter author J.K. Rowling.

Beyonce took second spot

Beyonce’s earnings are believed to have come from the release of latest album Lemonade and the subsequent world tour that followed, while J.K. Rowling experienced a bumper year bolstered by the publication of spin-off play Harry Potter and The Cursed Child and the cinema release of Fantastic Beasts and Where To Find Them.

Meanwhile, Beyonce was forced to pull out of headlining Coachella this year, as she is expecting twins with husband Jay-Z. Instead, she will now headline the California festival next year – with tickets going on sale last week.